[Arthur Hayes Reveals Current Altcoin Selection Logic, Emphasizes the Ultimate Goal of Trading Altcoins is to Accumulate More Bitcoin] BlockBeats News, October 17 – In a recent interview with *The Rollup*, Arthur Hayes expressed disappointment with the overall performance of altcoins over the past few years, citing overly high valuations and hidden risks in most new projects. He emphasized that his current fund strategy is to trade altcoins to accumulate more Bitcoin, rather than treating trading as an end goal in itself. Arthur Hayes also shared his logic for selecting altcoins: 1. Specifically looking for 'busted charts': tokens that have dropped 75%-80% from their local highs. He believes such targets can yield approximately 5x returns within a few months while carrying relatively low capital risk. 2. Completely avoiding new token issuances: high FDV (Fully Diluted Valuation), low circulating supply, and significant hidden risks from large unlocks by presale investors. 3. Favoring projects that have survived since the 2020 DeFi Summer, as their valuations reflect real usage rather than pure narrative-driven speculation. 4. A Barbell strategy: one end focuses on hard money/scarce assets (Bitcoin, Ethereum, Zcash), while the other end targets on-chain business protocols with real cash flow and buyback programs (benefiting from the gradual acceptance of U.S. regulations). [Original Link]